Anglo American anticipates impairment for De Beers

Anglo American anticipates impairment for De Beers amid weak diamond demand
Anglo American expects to book an impairment this year for its De Beers diamond business due to weak market conditions. This announcement comes as the company moves forward with plans to either spin off or sell its diamond business,
De Beers CEO Says US Diamond Demand Shows Signs of Recovery
De Beers said there were signs of a pick up in US diamond demand before Christmas, while India has overtaken China to become the second-biggest market.
Anglo American sees another De Beers impairment as diamond demand remains weak
Anglo American said all divisions met their full-year production guidance, and it expects its De Beers diamond business to book an impairment.
Anglo American Warns of De Beers Impairment Amid Subdued Diamond Demand
The miner said it would examine De Beers’s value in light of sluggish demand for diamonds as it seeks to exit the business.
Anglo American to review De Beers value amid weak diamond demand
The London-listed miner announced Thursday that it will review De Beers’s value as it looks to exit the business, citing persistently weak diamond demand. Last year, Anglo reduced De Beers’s book value by $1.6 billion to $7.6 billion.
Anglo American likely to write down value of De Beers
Anglo American said the impairment review of De Beers would assess “the impact of diamond market conditions and general fall in demand in China, which is likely to lead to an impairment at the full-year results” due on February 20.
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